Investment approvals have since January risen by 1 000 percent to 165 projects worth more than $16 billion compared to 62 projects worth $600 million approved during the first six months last year.
An analysis of economic activities related to investment done by the Zimbabwe Investment Authority (ZIA), indicates the mining sector is dominating the approved projects at 59, worth $1 billion with a potential of creating of over 8 000 jobs and export receipts of $443 million.
44 projects in the manufacturing sector worth $220 million and an employment creation target of 1 800 jobs and a foreign exchange generation of $162 million have also been approved since January.
The services sector has accounted for 33 projects worth $2.3 billion and export receipts of $2.6 million.
According to the investment authority, six projects in the energy sector worth $11 billion and a potential of creating over 5 000 jobs with an export earning capacity of $160 million have also been approved.
23 projects in agriculture, construction, tourism and transport with a combined value of more than $600 million and an export value of over a billion dollars have also been approved.
ZIA Chief Executive Officer Mr Richard Mbaiwa said the approved projects will increase economic value to the nation.
“It has been a busy year compared to last year and we anticipate the trend to continue because of the favourable investment climate ushered by the new dispensation,” he said.
Zimbabwe is forging ahead with investment attraction policies to achieve a six percent macro-economic target of six percent.